The company strives to empower artists in earning a livelihood from their music by tokenizing their songs on the blockchain and facilitating direct sales to their fans.
The company, which is a participant in a16z's Crypto Startup School, intends to establish a security standard for Web3 projects by means of its API, Discord Bot, and certification program.
FTX Ventures, Coinbase Ventures, Jump Crypto, a16z, and Circle Ventures were a few of the investors.
With the money, the company will be able to release its new Moonbirds NFT collection and a social network for NFT collectors.
Adam Neumann, the co-founder of Wework, is behind a new crypto project called Flowcarbon, which announced on Tuesday that it has raised $70 million from a small group of investors led by Andreessen Horowitz (A16z). The project's efforts, according to Flowcarbon's chief executive Dana Gibber, provide a 'great financial mechanism that creates a counterbalancing incentive to reforest, revive, and safeguard nature.'
The VC behemoth will put money into game companies, apps, and infrastructure.